February 4, 2009
U.S. Plans to Curb Executive Pay for Bailout Recipients
By EDMUND L. ANDREWS and VIKAS BAJAJ
NY Times


WASHINGTON — The Obama administration is expected to impose a cap of
$500,000 for top executives at companies that receive large amounts of
bailout money, according to people familiar with the plan.

Executives would also be prohibited from receiving any bonuses above
their base pay, except for normal stock dividends.

President Obama and Treasury Secretary Timothy F. Geithner plan to
announce the executive compensation plan on Wednesday morning at the
White House.

The new rules would be far tougher than any restrictions imposed during
the Bush administration, and they could force executives to accept deep
reductions in their current pay. They come amid rising public fury about
huge pay packages for executives at financial companies being propped up
by federal tax dollars.

Executives at companies that have already received money from the
Treasury Department would not have to make any changes. But analysts and
administration officials are bracing for a huge wave of new losses,
largely because of the deepening recession, and many companies that have
already received federal money may well be coming back.

- - -
$500,000 a year is more than the assholes running failed companies deserve.

HK wrote:
February 4, 2009
U.S. Plans to Curb Executive Pay for Bailout Recipients
By EDMUND L. ANDREWS and VIKAS BAJAJ
NY Times


WASHINGTON — The Obama administration is expected to impose a cap of
$500,000 for top executives at companies that receive large amounts of
bailout money, according to people familiar with the plan.

When is Giethner going to resign for being a tax cheat?

At least Richardson and Daschle and the CPO nominee had the decency to
resign.

HK wrote:
February 4, 2009
U.S. Plans to Curb Executive Pay for Bailout Recipients
By EDMUND L. ANDREWS and VIKAS BAJAJ
NY Times


WASHINGTON — The Obama administration is expected to impose a cap of
$500,000 for top executives at companies that receive large amounts of
bailout money, according to people familiar with the plan.

Executives would also be prohibited from receiving any bonuses above
their base pay, except for normal stock dividends.

President Obama and Treasury Secretary Timothy F. Geithner plan to
announce the executive compensation plan on Wednesday morning at the
White House.

The new rules would be far tougher than any restrictions imposed during
the Bush administration, and they could force executives to accept deep
reductions in their current pay. They come amid rising public fury about
huge pay packages for executives at financial companies being propped up
by federal tax dollars.

Executives at companies that have already received money from the
Treasury Department would not have to make any changes. But analysts and
administration officials are bracing for a huge wave of new losses,
largely because of the deepening recession, and many companies that have
already received federal money may well be coming back.

- - -
$500,000 a year is more than the assholes running failed companies deserve.
I would like to see a requirement for the Board Members to attend
Etchics in Business 101, Non Creative Accounting for dummies, Moral
Responsibility 100, and American Ideals and Patriotism 100, 102, and a
100 page Thesis on the founding of America.

On Feb 3, 11:42*pm, HK wrote:
February 4, 2009
U.S. Plans to Curb Executive Pay for Bailout Recipients
By EDMUND L. ANDREWS and VIKAS BAJAJ
NY Times

WASHINGTON — The Obama administration is expected to impose a cap of
$500,000 for top executives at companies that receive large amounts of
bailout money, according to people familiar with the plan.

Executives would also be prohibited from receiving any bonuses above
their base pay, except for normal stock dividends.

President Obama and Treasury Secretary Timothy F. Geithner plan to
announce the executive compensation plan on Wednesday morning at the
White House.

The new rules would be far tougher than any restrictions imposed during
the Bush administration, and they could force executives to accept deep
reductions in their current pay. They come amid rising public fury about
huge pay packages for executives at financial companies being propped up
by federal tax dollars.

Executives at companies that have already received money from the
Treasury Department would not have to make any changes. But analysts and
administration officials are bracing for a huge wave of new losses,
largely because of the deepening recession, and many companies that have
already received federal money may well be coming back.

* - - -
$500,000 a year is more than the assholes running failed companies deserve.

It's about time...... Concessions all around, I guess.

On Tue, 03 Feb 2009 23:42:19 -0500, HK wrote:

$500,000 a year is more than the assholes running failed companies deserve.

Your liberal Democratic buddies running New York don't think this is
such a good idea - it's going to impact their income tax revenue by
20%.

Interesting side bar - Goldman Sachs is preparing to give the money
back along with BOA, Wells Fargo and a couple of other banks.

--

"I intend to live forever. So far, so good."

Steven Wright

Wizard of Woodstock wrote:
On Tue, 03 Feb 2009 23:42:19 -0500, HK wrote:

$500,000 a year is more than the assholes running failed companies deserve.

Your liberal Democratic buddies running New York don't think this is
such a good idea - it's going to impact their income tax revenue by
20%.

Interesting side bar - Goldman Sachs is preparing to give the money
back along with BOA, Wells Fargo and a couple of other banks.

Nancy, Harry and Barack's coupe d'etat has failed.

"Wizard of Woodstock" wrote in message
...
On Tue, 03 Feb 2009 23:42:19 -0500, HK wrote:

$500,000 a year is more than the assholes running failed companies
deserve.

Your liberal Democratic buddies running New York don't think this is
such a good idea - it's going to impact their income tax revenue by
20%.

Interesting side bar - Goldman Sachs is preparing to give the money
back along with BOA, Wells Fargo and a couple of other banks.



That's interesting. Hadn't heard that.
I wonder why? The income and bonus cap doesn't apply to those who received
TARP I funds.
It only applies to future TARP money.

Eisboch

On Thu, 05 Feb 2009 12:57:08 GMT, Wizard of Woodstock
wrote:



Interesting side bar - Goldman Sachs is preparing to give the money
back along with BOA, Wells Fargo and a couple of other banks.

Big talk from execs who find gov tit milk a bit sour.
The gov owns these putzes.
Mama gov.
They were full of BS then, and they are now.
Their groveling and whining is getting old fast.
They best STFU and keep sucking gov tit.
Starving is their other option.
Hope that isn't harsh.
I did my best to moderate my views (-:

--Vic

On Thu, 05 Feb 2009 12:57:08 +0000, Wizard of Woodstock wrote:


Interesting side bar - Goldman Sachs is preparing to give the money back
along with BOA, Wells Fargo and a couple of other banks.

So, I guess they didn't need the money after all. Either that, or their
greed is unabated.

On Thu, 05 Feb 2009 07:07:54 -0600, Vic Smith wrote:

On Thu, 05 Feb 2009 12:57:08 GMT, Wizard of Woodstock
wrote:



Interesting side bar - Goldman Sachs is preparing to give the money back
along with BOA, Wells Fargo and a couple of other banks.

Big talk from execs who find gov tit milk a bit sour. The gov owns these
putzes.
Mama gov.
They were full of BS then, and they are now. Their groveling and whining
is getting old fast. They best STFU and keep sucking gov tit. Starving
is their other option.
Hope that isn't harsh.
I did my best to moderate my views (-:

--Vic

Hey, I'm with you. These are the putzes that just strangled the world's
economy. F'em.